Koninklijke Philips N.V.
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Publicatie datum
18 mei 2007 - 07:58
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips announces pricing of TSMC ADS offering
Bericht
Amsterdam, The Netherlands – Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced that its secondary offering of 1.2 billion common shares in the form of American Depositary Shares (‘ADSs’) in Taiwan Semiconductor Manufacturing Company Ltd. (“TSMC”) (TAIEX: 2330, NYSE: TSM) has been priced at USD 10.68 per ADS. Each ADS represents five TSMC common shares.
This offering of TSMC shares on the New York Stock Exchange forms part of the multi-phased plan to facilitate an orderly exit by Philips from its shareholding in TSMC announced by Philips and TSMC on March 9, 2007.
Philips expects to receive net proceeds of approximately EUR 1,840 million after closing of this transaction, and expects to book a total non-taxable gain of approximately EUR 1,220 million in its financial results for the second quarter. Upon closing, which is scheduled for May 23, 2007, Philips will retain a holding of approximately 2.1 billion TSMC shares.
Philips also announced it has sold its remaining stake of approximately 2.5% of the issued share capital in US-based JDS Uniphase Corp (NASDAQ: JDSU). This transaction will result in a one-time financial loss of approximately EUR 10 million in Philips’ results for the second quarter.
For more information, please contact:
Arent Jan Hesselink
Philips Corporate Communications
Tel: +31 20 59 77415
Email: arentjan.hesselink@philips.com
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 124,300 employees in more than 60 countries worldwide. The company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics.
Datum laatste update: 27 juli 2024